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5/29/07 09:35 PM -07:00
Bank of Canada rate decision today.
Rate was not changed. However, its
comments about strong economy, inflation
is slightly higher than expected, future
rate increase is possible sent Canadian
dollar through the roofs. It set
another new high against US dollar.
I have a long position at 1.0835.
At this time, it is -100 pips. I
normally don't do Fibonacci analysis,
but I did it today for my own sake.
MACD histogram is still in divergence.
I do have a stop loss order set at
1.0635. If it were hit, it would
be a 200-pip loss.
If I drew the Fibonacci lines
correctly, I would think the price hit
the target today. It may test the
low again tomorrow. We shall see.
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Last
Updated:
Sunday, October 07, 2007 10:27:34 AM -0700 |
